Bank Failure
Cagaus-Central Federal Savings
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Closed May 25, 1990 · Caguas, PR · FDIC Cert #31078.
- Closing date
- May 25, 1990
- Headquarters
- Caguas, PR
- FDIC Certificate
- 31078
- Total assets at closing
- $1.64B
- Total deposits at closing
- $1.26B
- Estimated loss to the insurance fund
- $231.3M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Banco Santander PR
Context
On May 25, 1990, regulators closed Cagaus-Central Federal Savings, headquartered in Caguas, PR. At closing, the institution held approximately $1.64B in assets and $1.26B in deposits. The FDIC record names Banco Santander PR as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $231.3M.
By assets at closing this is the 137th largest of the 3,526 bank failures in the FDIC record, and the 21st of 381 in 1990. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Cagaus-Central Federal Savings fail?
Cagaus-Central Federal Savings was closed by regulators on May 25, 1990.
Who acquired Cagaus-Central Federal Savings?
The FDIC record names Banco Santander PR as the acquiring institution in the resolution of Cagaus-Central Federal Savings.
How big was Cagaus-Central Federal Savings when it failed?
Cagaus-Central Federal Savings had approximately $1.64B in total assets and $1.26B in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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